Monetary transmission in an emerging targeter : the case of Brazil /

Monetary transmission in an emerging targeter : the case of Brazil /

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Bibliographic Details
Author / Creator:	Catão, Luis, author.
Imprint:	Washington, D.C. : International Monetary Fund, ©2008.
Description:	1 online resource (42 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/08/191.
Subject:	Transmission mechanism (Monetary policy) -- Brazil -- Econometric models. Inflation (Finance) -- Brazil -- Econometric models. Monetary policy -- Brazil -- Econometric models. Inflation (Finance) -- Econometric models. Monetary policy -- Econometric models. Brazil.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499650

Hidden Bibliographic Details
Other authors / contributors:	Laxton, Douglas, author. Pagan, A. R., author. International Monetary Fund. Research Department.
ISBN:	1462375979 9781462375974 1452778345 9781452778341 9786612841422 6612841427 1282841424 9781282841420 1451870493 9781451870497
Notes:	At head of title: Research Department. "August 2008." Includes bibliographical references (pages 26-29). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2011 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This paper lays out a structural model that incorporates key features of monetary transmission in typical emerging-market economies, including a bank-credit channel and the role of external debt accumulation on country risk premia and exchange rate dynamics. We use an SVAR representation of the model to study the monetary transmission in Brazil. We find that interest rate changes have swifter effects on output ande inflation compared to advanced economies and that exchange rate dynamics plays a key role in this connection. Importantly, the response to monetary policy shocks has grown stronger and the output-inflation tradeoff improved since the introduction of inflation targeting.
Other form:	Print version: Catão, Luis. Monetary transmission in an emerging targeter. Washington, D.C. : International Monetary Fund, ©2008

Description
Summary:	This paper lays out a structural model that incorporates key features of monetary transmission in typical emerging-market economies, including a bank-credit channel and the role of external debt accumulation on country risk premia and exchange rate dynamics. We use an SVAR representation of the model to study the monetary transmission in Brazil. We find that interest rate changes have swifter effects on output and inflation compared to advanced economies and that exchange rate dynamics plays a key role in this connection. Importantly, the response of inflation to monetary policy shocks has grown stronger and the output-inflation tradeoff improved since the introduction of inflation targeting.
Item Description:	At head of title: Research Department. "August 2008."
Physical Description:	1 online resource (42 pages) : illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 26-29).
ISBN:	1462375979 9781462375974 1452778345 9781452778341 9786612841422 6612841427 1282841424 9781282841420 1451870493 9781451870497